The Malcolm Company uses a standard cost system in which manufacturing overhead costs are applied to products on the basis of standard direct labor-hours (DLHs). The standards call for 3 hours of direct labor per unit produced. The following data pertain to the company's manufacturing overhead for the month of July:

Actual fixed manufacturing overhead costs incurred	$28,450
Denominator activity	8,400	DLHs
Number of units produced	2,900	units
Budget variance	$3,250	Unfavorable

The Fixed component of the predetermined overhead rate for June is: (Round your answer to 2 decimal places.)

$3.39

$3.77

$3.00

$3.11